Moodys Aaa Afdb

Moody’s Downgrades Kenya’s Credit Rating After Finance Bill 2024 Collapse

Moody’s Downgrade: A Wake-Up Call for Kenya Moody’s Investors Service downgraded Kenya’s credit rating from B3 to Caa1 after the Finance Bill 2024 failed to pass. This bill aimed to increase government revenue but was abandoned due to public opposition and concerns about its economic impact. As a result, Kenya’s fiscal deficit is projected to…

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Kenya Mobile Cash Industry

Kenya’s Digital Gold Rush: Unlocking the Financial Markets Potential using Mobile Phones

The Mobile Revolution Kenya, with over 32 million smartphones in use, is undergoing a financial transformation. Mobile money platforms like M-Pesa have revolutionized transactions, allowing many Kenyans to save, send, and receive payments without traditional banking. This change has been pivotal for 44% of the population previously excluded from formal banking services. Now, a new…

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Container Ship In Import Export And Business Crane ,

Mombasa Port Boosts Efficiency: Pre-Arrival Clearance Slashes Wait Times Amid 6.5% Import Surge

Surge in Import Traffic Mombasa Port has seen a 6.5% rise in import traffic, reaching 28,445 thousand metric tonnes to mid 2024, up from 26,713 thousand metric tonnes in mid 2023. This surge has prompted key agencies to enhance the pre-arrival clearance process, expediting cargo handling. Pre-arrival Processing The Kenya Revenue Authority, Kenya Ports Authority,…

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China Neta Ev Enter Kenyan Market

Chinese EV Giant Neta Launches Affordable Electric Cars in Kenya, Sparking Green Revolution

China’s electric vehicle (EV) manufacturer, Neta, has officially entered the Kenyan market. This move marks a significant step in the expansion of Neta’s global footprint and underscores the growing importance of Africa as a market for EVs. The entry of Neta into Kenya is expected to stimulate competition and offer Kenyan consumers more choices in…

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Kenyan Shilling Skyrockets by 17.8% in 2024: What’s Fueling the Surge?

The Kenyan shilling has made significant gains against the US dollar this year, appreciating by 17.8% from January to June. This growth reflects a combination of favorable market conditions, increased foreign exchange inflows, and investor confidence. Weekly Performance and Key Drivers In the past week, the shilling strengthened by 1.06%, closing at 128.66 from the…

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Cbk Dollar

Kenya Shilling Resilience: Factors Driving Currency Strength in Global Markets

The Kenya Shilling (KES) is key to Kenya’s economy. It’s the main currency for all transactions within the country. Knowing what affects its performance is crucial for traders, investors, businesses, and policymakers. This article explores the factors influencing the Kenya Shilling and its recent trends as of May 2024. Kenya has one of Africa’s largest…

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